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Q1 revenue gives momentum for tax sector to fulfill estimate

09:30 | 17/04/2021

VCN - By the end of the first quarter of 2021, the tax sector’s revenue is estimated at VND347,346 billion, or 31.1% of the estimate, 98.8% over the same period in 2020, reported by the General Department of Taxation.

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By the end of the first quarter, the tax sector’s revenue is estimated at VND347,346 billion. Photo: Thuy Linh.

The implementation progress of 42 of 63 localities gained over 30% of the estimate

The General Department of Taxation said that, compared with the same period inrecent years, the domestic revenue in the first quarter was lower in speed, but better in the implementation progress.The implementation progress of 42 of 63 localities gained over 30% of the estimate; 40 localities saw revenue growth and revenue of 34 of 63 localities reached 30% or more of the estimate.

Hung Yen is one of the provinces reaching good revenue and revenue growth.

According to a report from Hung Yen Department of Taxation, by the end of March 31, 2021, the department collected VND4,258 billion, up 57.9% over the same period last year.

To achieve this result, Hung Yen Department of Taxation has proactively taken measures to manage revenue and prevent state budget revenue loss. From the first months of the year, the department has directed its units to review and evaluate revenues and taxes to assign the desired estimate and the first quarter estimate to each unit; as well as carried out measures to combat revenue loss, exploit revenues and remove difficulties and problems in a timely fashion; and created all favorable conditions for taxpayers to perform business and production activities and fulfill budget obligations.

Quang Nam is also a locality with positive domestic revenue from the first quarter.

As reported by Quang Nam Department of Taxation, the unit in the first quarter collected more than VND5,995 billion, or 37% of the estimate assigned by the provincial People's Council, 33% of the desired estimate, up 47.6% over the same period in 2020.

The revenue growth in the first quarter of Quang Nam Quang Nam Department of Taxation was partially thanks to revenues from Chu Lai - Truong Hai Auto Group and hydropower companies.

In addition, a number of key firmswhich maintained production and business activities,contributed high remittances to the budget such as: Chu Lai Float Glass Joint Stock Company; Tan Minh Nhan Company Limited; Number one Chu Lai Company Limited and A Vuong Hydropower Joint Stock Company.

Review potential revenue sources

In the context that the Covid-19 pandemicstill has potentialrisk of return, the State's supporting policies will directly affect the State budget collection task in the second quarter and the whole of 2021.

In order to strive to exceed the State budget target in 2021 assigned by the National Assembly and the Government, the General Department of Taxation has requested tax agencies at all levels to drastically implement solutions such as focusing on enhancing reforms of tax administrative procedures; solving difficulties and problems for businesses, improving the business environment, creating favorable conditions for businesses to develop stably and attracting investment and increasing new production, promoting economic growth and creating a premise to raise revenue for the state budget.

Mr. Chu Tuong Anh, Director of Hung Yen Department of Taxation said, to complete the estimate assigned by the Provincial People's Council (exceeding at least 5% under the direction of the Ministry of Finance, the General Department of Taxation), the department determined that it will proactively monitor the production and business situation of enterprises in order to advise the local authorities on solutions for state budget collection; carry out State’s supporting policies to remove difficulties for enterprises to restore production and business activities.

Along with that, the department will actively review potential revenue sources from land, natural resources, minerals, projects out of incentives, new projects, commercial business activities, in the province to forecast revenue sources close to the actual situation.

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At the Hanoi Tax Department, to complete the State budget collection task in 2021, this unit sets the task of continuing to identify the enterprise and the taxpayer as the center. Accordingly, the unit will regularlytalk with them tounderstand their difficulties. Also, the unit will advise the effective implementation of the policies of the National Assembly, the Government, the Ministry of Finance and the City on solving difficulties for businesses, taxpayers, helping them restore operations after the Covid-19 pandemic and able to fulfill budget obligations, creating a basis for nurturing a sustainable source of income.

The General Department of Taxation is also continuing to review, study and report to competent authorities on consideration, amendment, supplementation and completion of tax documents and guiding documents of the Law on Tax Administration to cover all revenue sources, improve tax administration capacity for tax collection agencies, prevent tax fraud, evasion, tax loss and arrears, and deploy electronic tax management; promote the application of information technology in management, creating a favorable and transparent environment for taxpayers to fulfill their obligations to the state budget.

By Thuy Linh/ Huyen Trang